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☆ Hong Kong 47: Democracy leaders sentenced to lengthy jail terms in largest national security trial as Beijing tightens grip
▼ + stars: | 2024-11-18 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +8 min

Benny Tai, a prominent legal scholar and veteran protest leader, received the longest prison term of 10 years – the toughest sentence to date handed down under the national security law. But since the national security law came into effect in 2020, Hong Kong’s political and legal landscape has been transformed. The administration of outgoing US President Joe Biden was also critical of Bejing’s crackdown in Hong Kong, even as it tried to recalibrate ties with Beijing. John Burns, emeritus professor at the University of Hong Kong, said the cumulative changes have reduced the city’s autonomy and citizens’ participation in politics. “The new regime has restricted human rights in Hong Kong, rights that Hong Kongers used to enjoy.

Persons: Hong Kong’s, Joshua Wong, “, –, Benny Tai, Wong, Gwyneth Ho, Leung Kwok, Claudia Mo, teared, ” –, Chris Lau, Lee Yue, ”, Hong, Donald Trump’s, Joe Biden, Trump, Raphael Wong Ho, John Burns, Hong Kongers, Hong Kong, John Lee –, ” Lee Organizations: Hong Kong CNN, Hong, CNN Landmark, Police, Washington, Beijing, CNN, Legislative Council, University of Hong, Authorities, Communist Party Locations: Hong Kong, Kowloon, Beijing, British, China, University of Hong Kong, Hong

☆ HKMA: Optimistic about Hong Kong based on US rate cuts and mainland stimulus
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKMA: Optimistic about Hong Kong based on US rate cuts and mainland stimulusEddie Yue, Chief Executive of HKMA, says several factors help boost his outlook on consumer and business activity in Hong Kong – but says the city still needs to be more resilient in the face of potential global shockwaves.

Persons: Eddie Yue Organizations: Hong, HKMA Locations: Hong Kong

Chinese authorities last month announced high-level plans for subsidies and tax breaks to households with children under the age of 3. China's efforts to bolster birth rates have yet to address the core reasons for their rapid decline, according to analysts. Births in China have been on a drastic downward trend since the government implemented its "one-child policy" nationwide in 1980. An increasingly pressing factor for families in China is uncertainty about income for raising a child. After decades of rapid expansion, China's economy has slowed down, dragged down by a real estate slump.

Persons: Lauren Johnston, Harry Murphy Cruise, Austin Schumacher, Schumacher, Sheana Yue, Yue Organizations: Dongfang, China Studies Center, University of Sydney, United Nations, Moody's, Institute for Health Metrics, University of Washington, Oxford Locations: Lianyungang, China, U.S

☆ Trump win and threat of more tariffs raises expectations for more China stimulus
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

On the campaign trial, Trump threatened to impose additional tariffs of 60% or more on Chinese goods sold to the U.S. She expects a stimulus package of more than 10 trillion yuan ($1.39 billion), with about 6 trillion yuan going towards local government debt swaps and bank recapitalization. More than 4 trillion yuan will likely go towards local government special bonds for supporting real estate, Su said. That divergence in stock performance indicates China's stimulus "will be slightly bigger than the baseline scenario," said Liqian Ren, who leads WisdomTree's quantitative investment capabilities. She estimates Beijing will add about 2 trillion yuan to 3 trillion yuan a year in support.

Persons: Zhu Baoliang, Trump, Su, Yue Su, —, Liqian Ren, Ren doesn't, Biden, Chris Miller, That's, China's, Zhiwei Zhang Organizations: Bund, Trump, Citigroup, U.S, Economist Intelligence Unit, National People's Congress, Huawei, Republicans, Senate, NBC, Republican Party, Emergency Economic, Trade Locations: Shanghai, China, Hong Kong, Beijing, U.S

Voter turnout among this group is low — less than 8% in the 2020 presidential election, according to FVAP, compared with almost 67% overall. Overseas voters “can sway an election, especially in the swing states,” said James Lockett, chair of Democrats Abroad Hong Kong. During the 2022 midterm elections, overseas voters also made the difference in close races in Connecticut, New Hampshire and North Carolina, the DNC said. Even as Republicans raise concerns about overseas voters, their presidential nominee, former President Donald Trump, appears to be seeking their support. “You can’t treat overseas Americans as second-class citizens, and I don’t care if they are Republicans, Democrats or independents.”

Persons: ”, James Lockett, Lockett, Abhi Rahman, “ We’re, ” Lockett, we’re, Biden, Lloyd Austin, “, Donald Trump, ” Trump, Solomon Yue, Trump, Kamala Harris, Yue, “ It’s, “ You’ve Organizations: U.S, Republicans, Voting, Overseas, Democratic National Committee, Republican National Committee, ” Reuters, Wall Street, Republicans Overseas, Democratic, RNC Locations: HONG KONG, United States, U.S, Hong Kong, Texas, Arizona , Georgia, Michigan, Nevada , North Carolina , Pennsylvania, Wisconsin, Connecticut , New Hampshire, North Carolina, Michigan , North Carolina, Pennsylvania, Eritrea, Oregon

But the measures that Beijing’s economic planning agency announced this week proved to be an anticlimax — the trillions of yuan that observers were hoping would be revealed never materialized. Beijing might even miss its annual growth target of 5% — a figure it often surpassed prior to the pandemic. But while Chinese officials project confidence, the markets and the country’s public seem less convinced. Its broader financial lethargy and this week’s market turmoil will hardly be welcomed by Beijing. Costphoto / NurPhoto via Getty ImagesDomestic stimulus aside, there have been outward signs that China’s economy is in trouble.

Persons: Xi Jinping, Long Wei, ”, Keyu Jin, Trump, Joe Biden, isn’t, Fu, Miao Yuqing, Miao, Alicia Garcia, Herrero, what’s, Zheng Shanjie, Yue Su, ” Su Organizations: Beijing, Traders, Investors, CSI, Getty Images, London School of Economics, The, Communist Party, U.S, AFP, Getty, “, Asia Pacific, ”, National, Reform, Economist Intelligence Unit Locations: BEIJING, Shanghai, Hong Kong, China, Beijing, Hangzhou, Long, Lianyungang, Natixis, Guizhou province, Washington

☆ China’s ‘New Great Wall’ Casts a Shadow on Nepal
▼ + stars: | 2024-10-12 | by ( ) www.nytimes.com time to read: +14 min

Hilsa Village NEPAL CHINA Area of detail CHINA Humla District NEPAL Kathmandu INDIA 75 miles NEPAL CHINA Hilsa Village CHINA Area of detail Humla District NEPAL Kathmandu INDIA 75 miles Source: OpenStreetMap, ESRI By Agnes ChangThe Nepalis have other complaints, too. “This is the new Great Wall of China,” said Jeevan Bahadur Shahi, the former provincial chief minister of the area. Without proper roads, it takes goat herders three days to cover the seven miles from Simikot, Nepal, to Humla. CHINA NEPAL CHINA-NEPAL BORDER CHINA NEPAL CHINA-NEPAL BORDER CHINA NEPAL CHINA-NEPAL BORDERThe Chinese side used to be nearly as remote, the seclusion broken only by a flow of pilgrims to Mount Kailash, which is holy to four faiths. Just 20 miles away is the junction of China, Nepal and India.

Persons: Nepalis, Agnes Chang, Dalai Lama, ”, Jeevan Bahadur Shahi, Xi’s, Xi, Brian Hart, ” Mr, Hart, Arzu Rana Deuba, —, Saud, Saud’s, “, Mr, Deuba, Pan Yue, China “, Shahi, Lhamu Lama, Hilsa, Pema Wangmu Lama Organizations: Chinese Communist Party, Covid, China Power, Center for Strategic, International Studies, Liberation Army, U.S . Department of Defense, The New York Times, Nepali Home Ministry, The Times, Communist, Security, Guard, Times, National Ethnic Affairs, Nepali Locations: Tibet, Nepal, Nepal’s Humla District, China, Hilsa, NEPAL CHINA, CHINA Humla District NEPAL Kathmandu INDIA, NEPAL CHINA Hilsa, CHINA, Humla, NEPAL Kathmandu INDIA, ESRI, Nepali, Nepal’s Humla, Simikot, Beijing, Washington, Philippine, India, Humla District, N.P, Hulma, Kathmandu, Vietnam, People’s Republic of China, CHINA NEPAL CHINA, NEPAL, Mount Kailash, Xinjiang, Purang, ”, Bhutan, District

☆ China's Xi and top leaders call for halting real estate decline, responding to public concerns
▼ + stars: | 2024-09-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Authorities "must work to halt the real estate market decline and spur a stable recovery," the readout said in Chinese, translated by CNBC. The readout said leaders called for strengthening fiscal and monetary policy support, and touched on a swath of issues from employment to the aging population. Just days after the U.S. cut interest rates, the People's Bank of China on Tuesday announced a slew of planned interest rate cuts and real estate support. This real estate policy is aiming at reducing its drag on the economy." Tempering growth expectationsThe meeting readout said China would "work hard to complete" the country's full-year economic targets.

Persons: Xi Jinping, Zhiwei Zhang, Stocks, Goldman Sachs, Yue Su, Zong Liang, Zong, Bruce Pang Organizations: Getty, CNBC, Communist Party, People's Bank of China, Economist Intelligence Unit, Bank of Locations: Yuexi County, Anqing, Anhui province, China, BEIJING, Hong Kong, U.S, Beijing, JLL

Read previewOn Monday, Amazon mandated corporate workers return to the office five days a week beginning January 2nd. AdvertisementHere's a list, in alphabetical order, of major companies requiring employees to return to offices. BlackRockLast year, BlackRock mandated employees return to the office four days a week. MetaMeta updated its remote work policies in September 2023, requiring employees to head into the office three days a week. AdvertisementWalmartAlong with slashing hundreds of jobs, Walmart also asked previously remote employees in the US to move to offices.

Persons: —, Goldman Sachs, Andy Jassy, We've, Jassy, Insider's Ashley Stewart, It's, Apple's, Tim Cook, Rob Goldstein, Caroline Heller, Chipotle, Bob Iger, Iger, signees, David Solomon, Fortune, Fiona Cicconi, Arvind Krishna, Jamie Dimon, Redfin, Glenn Kelman, Salesforce Salesforce, Marc Benioff, Howard Schultz, Schultz, Tesla, Elon Musk, nodded, Musk, X, Yao Yue, Yue, Dara Khosrowshahi Organizations: Service, JPMorgan, Business, Amazon, Apple, BlackRock, Hudson, Bloomberg, Citigroup Citigroup, HSBC Holding Plc, Barclays, Citigroup, Reuters, Disney, The Washington Post, CNBC, Google, San Francisco Bay Area, IBM IBM, IBM, Meta Meta, Frisco, San Francisco Standard, Engineers, Starbucks, Elon, Twitter, National Labor Relations, Walmart, Street Journal Locations: Seattle, New York City, San Francisco Bay, San Francisco, Dallas , Atlanta, Toronto, Arkansas, New Jersey

☆ China raising its retirement age may be unpopular but it's much needed, analysts say
▼ + stars: | 2024-09-13 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

Economists have long called for an overhaul of the nation's retirement age laws, currently among the world's lowest, which was set in an era of lower life expectancies. Raising the retirement age would help ease local governments' pension pool cash crunch, Sheana Yue, an economist from Oxford Economics said. Still, "more needs to be done to improve retirement adequacy," Maybank's Tay said, while stating that China needs a stronger pension plan and diversified investment avenues to ensure sustainable retirement savings. China's Ministry of Human Resources and Social Security has added a few tools for citizens to check their indicated retirement age on its website and mobile app. China may roll out "another round of delay in the late 2030s, especially if China's pension fund balance is tight," Xu cautioned.

Persons: Erica Tay, Tay, Bruce Pang, Tianchen Xu, Xu, Yue, Maybank's Tay Organizations: Getty, Maybank Investment Banking Group, CNBC, Economist Intelligence Unit, Oxford Economics, Academy of Social Sciences, China's Ministry of Human Resources, Social Security Locations: Fuyang, China, JLL, Beijing

☆ China detains artist for scathing Mao works created more than a decade ago, family says
▼ + stars: | 2024-09-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

At the height of their careers, the Gao Brothers created provocative sculptures of Mao in a country notoriously sensitive about its former ruler’s legacy. Due to the “deteriorating environment” in China, Gao Zhen relocated to New York two years ago when his son, an American citizen born in the US, reached school age, Gao Qiang said. “Before he set off, his friends and family — myself included — had all reminded him to consider whether it was safe to go,” Gao Qiang said. “Our father’s death was a devastating disaster for our family.” Gao Zhen told the Southern People Weekly, a once-outspoken news outlet, in 2010. Gao Zhen’s detention shows that freedom of expression in China has shrunk significantly compared to a decade ago, Gao Qiang said.

Persons: Mao Zedong, Gao Zhen, China’s, ”, Gao Qiang, Gao Brothers, Mao, Xi Jinping, “ Miss Mao, ’, Du Yinghong, —, “, ” Gao Qiang, Gao Zhen’s, ‘ Miss Mao, Gao, David Gray, Yue Minjun, “ uglifying, Donald Trump, Vladimir Putin Organizations: Hong Kong CNN, CNN Sunday, Chinese Communist Party, CNN, ”, Police, Reuters, Communist Party, Southern People, Ukraine, Centre Pompidou, San Francisco Museum of Modern Art Locations: Hong Kong, China, Beijing, New York, Hebei province’s Sanhe, American, Yanjiao, Hebei, Sanhe, India, “, Paris , New York, Moscow, Berlin, Paris

☆ Giant pink man causes stir in small Welsh town
▼ + stars: | 2024-07-26 | by ( Louis Mian | ) edition.cnn.com time to read: +3 min

CNN —A large, pink, inflatable man, created by the Chinese contemporary artist Yue Minjun, has divided opinion in a small town in Wales. “The image represents the boredom of Chinese society during the rise of consumerism and economic reform in the early 1990s,” the centuries-old Ruthin School said in a post on Facebook. Yue’s work, in particular his many grinning self-portraits, have become among the most recognizable pieces of Chinese contemporary art. She said the school’s students “love it” are “really quite fond” of the large inflatable man. Another local resident told CNN the inflatable is “a bit odd for an art installation,” while a local barber aid opinions differed, explaining that he had heard both positive and negative reaction.

Persons: Yue Minjun, Frances King, “, that’s, King, “ We’ve, ’, ”, ” Gina Moorcroft, ” Angela Louise Sersa, “ It’s, Yue Organizations: CNN, Ruthin School, Facebook, Ruthin International Arts Locations: Wales, Ruthin, Cardiff, ”

☆ Saudi Arabia is seeking billions in Chinese investment for Neom. But it comes with a massive risk.
▼ + stars: | 2024-06-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAt a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity. It was part of Saudi Arabia's drive to secure billions in new investment for the project, which is the centerpiece of Saudi ruler Mohammed bin Salman's Vision 2030 strategy. China sees Saudi Arabia as not just a business opportunity but a way of undercutting the influence of its longtime Saudi ally, the US. AdvertisementIn April, Saudi Arabia's Public Investment Fund-subsidiary Alat signed a deal with Dahua Technology, one of China's most important surveillance technology firms. "The main risk today to Saudi Arabia's tech cooperation with China is the growing China-US tech war.

Persons: —, Mohammed bin Salman's, Xi Jinping, Mohammed bin Salman Al Saud, Yue Yuewei, Leonard Chan, Robert Mogielnicki, Abdullah Al, Crown Prince Mohammed, Alat, GREG BAKER, Camille Lons, Neom that's, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's, Biden Organizations: Service, Business, Saudi, Saudi Crown Prince, Getty, Hong Kong Innovative Technology Development Association, Gulf States Institute, Crown, Public Investment Fund, Dahua Technology, US, European Council, Foreign Relations, Saudi Arabian Crown, New York Times Locations: Hong Kong, Saudi Arabia, Saudi, Riyadh, Xinhua, China, Washington, Neom, Riyadh Tower, Beijing, Israel

☆ 14 pro-democracy activists found guilty of subversion in Hong Kong’s biggest national security case
▼ + stars: | 2024-05-30 | by ( Jennifer Jett | ) www.cnbc.com time to read: +2 min

HONG KONG — A Hong Kong court on Thursday found 14 of 16 pro-democracy activists guilty of conspiring to subvert the state in the Chinese territory's single largest case under a sweeping national security law imposed by Beijing. Of those, 31 pleaded guilty in the hopes of a reduced sentence, while the remaining 16 pleaded not guilty. Hong Kong had had a 100% conviction rate in national security cases, which are prosecuted under rules that diverge from the city's legal norms, including presumption against bail. Almost 300 people have been arrested under the national security law, which came into force in the summer of 2020. The charges stem from an informal primary election held in July 2020 in which more than 600,000 voters selected pro-democracy candidates for a legislative election that was scheduled for that September.

Persons: Lau, Lee Yue, Critics, Eric Yan, Lai, Benny Tai, Claudia Mo, Joshua Wong, Leung Kwok, Raymond Chan, Gwyneth Ho, Hong Kong, Carrie Lam Organizations: Hong, Georgetown Center, Asian Locations: HONG KONG, Hong Kong, Beijing, Hong

☆ China is worried about overcapacity, too — but it sees the problem differently than the US
▼ + stars: | 2024-04-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US treasury secretary raised concerns about China's overproduction in her recent visit to the country. China has hit back at her concerns, but it's also concerned about overcapacity, an economist says. Just like the US and all of China's trading partners, Chinese authorities are concerned about industrial overcapacity and want to curb it. She added that China's trade surplus with the world meant there might be fewer incentives for Beijing to tackle the issue. AdvertisementAnalysts expect the US debate over its trade issues with China to heat up heading into the presidential election season.

Persons: it's, —, Yue Su, Su, Janet Yellen, Janet Yellen's, Yellen, Li Qiang, Mao Ning, Mao Organizations: Service, Economist Intelligence Unit, European Union, EU, Commerce Department Locations: China, Beijing, People's Republic of China, Thailand, EU, —

☆ Yellen says U.S. plans to ‘underscore’ need for China to shift policy
▼ + stars: | 2024-04-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to shift its policy on industry and the economy, as she wrapped up the fourth and final full day of her trip to China on April 8. Pedro Pardo | Afp | Getty ImagesBEIJING — U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to change its policy on industry and the economy. Yellen said her conversations with Chinese officials during the trip discussed plans Beijing had for its economy, but she did not elaborate. Yellen also declined to share what tools the U.S. might use to prevent China's industrial policy from resulting in the loss of American jobs. During her trip, Yellen met with top Chinese officials including Premier Li Qiang in Beijing and Vice Premier He Lifeng in Guangzhou.

Persons: Janet Yellen, Pedro Pardo, Yellen, Yue Su, Su, Premier Li Qiang Organizations: Treasury, U.S, Afp, Getty, International Monetary Fund, World Bank Group, EV, The Economist Intelligence Unit, ASEAN, Consumer, Premier, Lifeng Locations: China, BEIJING, U.S, Guangzhou, Beijing, Washington ,, Europe, Hong Kong, Washington

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

☆ Push to pay Trump legal bills grows within Republican National Committee
▼ + stars: | 2024-03-06 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

A growing number of Republican National Committee members believe its campaign arm should help pay mounting legal bills for former President Donald Trump, a move that could strain the party's ability to financially support other candidates in the 2024 election. "I support the RNC paying President Trump's legal bills," Yue said. And the RNC historically has raised money to support candidates up and down the ballot, not to pay for a candidate's legal bills. There also might be a decision made at that meeting on whether the RNC will pay for Trump's legal bills. "The only mission of the Republican National Committee is to elect our presumptive nominee Trump as the 47th President," Yue wrote.

Persons: Donald Trump, Solomon Yue, Yue, Henry Barbour, Barbour, Nikki Haley, Trump, Trump's, Chris LaCivita —, —, Ronna McDaniel, Joe Biden, Stormy Daniels, Biden's Organizations: Manhattan Criminal, Republican National Committee, RNC, CNBC, Reuters, Former United Nations, Republican, NBC, Trump, White Locations: New York City, Oregon, Houston, New York

☆ Healthy living may battle cognitive decline even with signs of dementia in the brain, study suggests
▼ + stars: | 2024-02-05 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

CNN —Living a healthy lifestyle with a focus on a nutritious diet, regular exercise, minimum alcohol consumption and other healthy habits can help keep your brain sharp into old age, doctors say. But what if your brain already has signs of beta amyloid or tau — two of the hallmark signs of Alzheimer’s and other brain pathologies? Will a healthy lifestyle still protect you from cognitive decline? Not everyone who has signs of Alzheimer’s or vascular dementia goes on to develop cognitive issues, but many do. In fact, “a higher healthy lifestyle score was associated with better cognition even after accounting for the combined burden of brain pathologies,” according to Yaffe and Leng.

Persons: ”, Dr, Klodian, Richard Isaacson, “, Isaacson, wasn’t, —, Kobus, Lewy, Yue Leng, Kristine Yaffe, Yaffe, San Francisco Weill Institute for Neurosciences . Leng, Leng, it’s Organizations: CNN, Rush Institute, Healthy Aging, Rush University, “, University of California, San Francisco Weill Institute for Neurosciences . Locations: Chicago, Florida, San

BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health. That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday. "At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics. The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region. Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.

Persons: Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln Organizations: P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson Locations: BEIJING, China, Hang Seng Bank China, Shanghai

BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September. In Bangkok, the SET fell 0.5%. Facebook parent company Meta fell 2%, Google’s parent company Alphabet gave up 1.6% and Microsoft dropped 1%. Las Vegas Sands slid 4.9% after Miriam Adelson, the casino operator’s controlling shareholder, sold some $2 billion in stock.

Persons: That’s, Yue, India's Sensex, Taiwan's Taiex, Brent, gainers, Miriam Adelson Organizations: Federal, Consumer, U.S ., Bank, Nikkei, Capital Economics, OPEC, Sunday, New York Mercantile Exchange, Big Tech, Dow Jones, Nasdaq, Facebook, Meta, Microsoft, New York Stock Exchange, General Motors, GM, United Auto Workers, Canadian, Treasury, Sands Locations: BANGKOK, Vienna . U.S, U.S, Asia, Hong Kong, Shanghai, Australia, Bangkok, Sunday .

☆ Hong Kong finance summit tiptoes around China
▼ + stars: | 2023-11-09 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Hong Kong in November enjoys a pleasant climate that some local managers dub “chairman weather”. Hong Kong is hardly a hot destination for financiers right now. Companies raised just $2.7 billion from initial public offerings in Hong Kong in the quarter, a fraction of previous years. Hong Kong officials including John Lee, the territory’s chief executive, have been sanctioned by the U.S.. Follow @peter_tl on XCONTEXT NEWSThe Global Financial Leaders’ Summit was held in Hong Kong from Nov. 6 to Nov. 8.

Persons: Marc Rowan, Colm Kelleher, Morgan Stanley, Goldman Sachs, David Solomon, Jane Fraser, Ken Griffin, Hong, John Lee, Eddie Yue, Kung, Zhang Qingsong, Bob Prince, Mark Wiedman, Apollo’s Rowan, UBS’s Kelleher, Joseph Yam, Una Galani, Thomas Shum Organizations: Reuters, Apollo Global Management, UBS, Monetary Fund, Companies, Citigroup, Citadel, Hong Kong Monetary Authority, Hong Kong’s HK, Exchange, People’s Bank of China, Bridgewater Associates, BlackRock, Goldman, Bank for International, Global, ’, Thomson Locations: HONG KONG, Hong Kong, Europe, U.S, China . Hong Kong, China, People’s Republic, Hong, British, Singapore, BLK.N, ”

☆ Too early to talk about interest rates coming down: HKMA Chief Executive
▼ + stars: | 2023-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToo early to talk about interest rates coming down: HKMA Chief ExecutiveHong Kong Monetary Authority chief executive Eddie Yue says the risks rising from negative equity in Hong Kong are "manageable" despite the higher for longer interest rate environment.

Persons: Eddie Yue Organizations: Hong Kong Monetary Authority Locations: Hong Kong

SEOUL (AP) — Jessica Pegula beat Yuan Yue 6-2, 6-3 in the final of the Korea Open on Sunday for the fourth title of her career. The top-seeded Pegula dropped only one set through the tournament and becomes the first American since Venus Williams in 2007 to win the title in Seoul. “My mom is Korean and she was adopted from here so it’s really special to be able to win here,” Pegula said. So it’s really special.”Playing in her first career final, 128th-ranked Yuan showed no signs of nerves and earned a break point in Pegula's opening service game, which the American saved with a forehand winner. 4-ranked player then won eight consecutive games to take the first set and build a 3-0 lead in the second as a quick victory looked likely.

Persons: — Jessica Pegula, Yuan Yue, Pegula, Venus Williams, “, ” Pegula, I’ve, it’s, Yuan, ___ Organizations: Korea Locations: SEOUL, Seoul, Montreal, North America

☆ Twitter illegally fired a worker who pushed back at Elon Musk's RTO demands, says NLRB
▼ + stars: | 2023-10-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Elon Musk's X has been accused of breaking federal law for firing an employee who complained about return-to-office mandates. Five days later she was fired for breaking an unspecified company policy. AdvertisementAdvertisementTwitter illegally fired an employee who complained about Elon Musk's return-to-office mandates, the National Labor Relations Board said. AdvertisementAdvertisementThe complaint says that Yao Yue, a principal software engineer, criticized Musk's policy, tweeting "don't resign, let him fire you," and posting "don't be fired. Yue was then fired five days later in November, with the only explanation given was that she'd violated an unspecified company policy.

Persons: Elon Musk's, Yao Yue, —, didn't, Musk, Slack, Yue, I’m, witter Organizations: Service, Twitter, National Labor Relations Board, NLRB, X, CNBC, ue 岳峣, EO Locations: usk

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